GAM Holding AG bought a new position in Fidelity and Guaranty Life (NYSE:FGL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 33,054 shares of the financial services provider’s stock, valued at approximately $1,026,000. GAM Holding AG owned approximately 0.06% of Fidelity and Guaranty Life at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Gamco Investors INC. ET AL acquired a new stake in Fidelity and Guaranty Life during the second quarter worth approximately $621,000. SG Americas Securities LLC increased its stake in Fidelity and Guaranty Life by 189.1% in the second quarter. SG Americas Securities LLC now owns 42,178 shares of the financial services provider’s stock worth $1,310,000 after buying an additional 27,589 shares during the last quarter. S. Muoio & CO. LLC acquired a new stake in Fidelity and Guaranty Life during the second quarter worth approximately $776,000. State of Wisconsin Investment Board increased its stake in Fidelity and Guaranty Life by 85.9% in the second quarter. State of Wisconsin Investment Board now owns 199,075 shares of the financial services provider’s stock worth $6,181,000 after buying an additional 92,000 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Fidelity and Guaranty Life by 0.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 46,199 shares of the financial services provider’s stock worth $1,435,000 after buying an additional 304 shares during the last quarter. Institutional investors and hedge funds own 23.52% of the company’s stock.

Shares of Fidelity and Guaranty Life (NYSE FGL) opened at 31.25 on Friday. The company has a 50 day moving average of $31.16 and a 200-day moving average of $29.31. Fidelity and Guaranty Life has a 12-month low of $21.10 and a 12-month high of $31.38. The company has a market capitalization of $1.83 billion, a P/E ratio of 9.50 and a beta of 0.90.

Fidelity and Guaranty Life (NYSE:FGL) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.63. Fidelity and Guaranty Life had a net margin of 13.61% and a return on equity of 8.00%. The company had revenue of $380 million for the quarter, compared to the consensus estimate of $308 million. During the same period last year, the company earned $0.82 earnings per share. The firm’s revenue was up 45.6% compared to the same quarter last year. On average, equities analysts anticipate that Fidelity and Guaranty Life will post $2.65 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 28th. Stockholders of record on Monday, August 14th were issued a $0.065 dividend. The ex-dividend date was Thursday, August 10th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.83%. Fidelity and Guaranty Life’s dividend payout ratio (DPR) is presently 7.90%.

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A number of research firms recently commented on FGL. ValuEngine downgraded shares of Fidelity and Guaranty Life from a “strong-buy” rating to a “buy” rating in a report on Friday. BidaskClub downgraded shares of Fidelity and Guaranty Life from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, Sandler O’Neill downgraded shares of Fidelity and Guaranty Life from a “buy” rating to a “hold” rating in a report on Wednesday, May 24th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $26.60.

About Fidelity and Guaranty Life

Fidelity & Guaranty Life (FGL) is a holding company focused on obtaining controlling equity stakes in companies that operate across various industries. FGL’s primary business is the sale of individual life insurance products and annuities through independent agents, managing general agents, and specialty brokerage firms and in selected institutional markets.

Institutional Ownership by Quarter for Fidelity and Guaranty Life (NYSE:FGL)

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